Gates Industrial Corporation plc [GTES] Revenue clocked in at $3.57 billion, up 9.69% YTD: What’s Next?

Gates Industrial Corporation plc [NYSE: GTES] price surged by 1.52 percent to reach at $0.22. The company report on February 20, 2024 at 8:05 AM that GATES INTRODUCES CLEAN MASTER™ PLUS PRESSURE WASH HOSE.

Lighter more flexible high pressure hose improves ergonomics, productivity and safety.

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Gates (NYSE: GTES), a global manufacturer of highly engineered power transmission and fluid power solutions, announces the launch of the Clean Master Plus hose platform, the newest addition to Gates’ industrial hose lineup, built for high pressure applications in demanding industrial environments.

The one-year GTES stock forecast points to a potential upside of 11.11. The average equity rating for GTES stock is currently 2.10, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Gates Industrial Corporation plc [GTES]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GTES shares is $16.56 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GTES stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for Gates Industrial Corporation plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 29, 2024. The new note on the price target was released on February 22, 2024, representing the official price target for Gates Industrial Corporation plc stock. Previously, the target price had yet another raise to $14.50, while Goldman analysts kept a Neutral rating on GTES stock.

The Average True Range (ATR) for Gates Industrial Corporation plc is set at 0.38, with the Price to Sales ratio for GTES stock in the period of the last 12 months amounting to 1.09. The Price to Book ratio for the last quarter was 1.21, with the Price to Cash per share for the same quarter was set at 2.74. Price to Free Cash Flow for GTES in the course of the last twelve months was 9.27 with Quick ratio for the last quarter at 2.25.

GTES Stock Performance Analysis:

Gates Industrial Corporation plc [GTES] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.65. With this latest performance, GTES shares gained by 11.77% in over the last four-week period, additionally plugging by 21.05% over the last 6 months – not to mention a rise of 4.84% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GTES stock in for the last two-week period is set at 70.93, with the RSI for the last a single of trading hit 74.94, and the three-weeks RSI is set at 68.01 for Gates Industrial Corporation plc [GTES]. The present Moving Average for the last 50 days of trading for this stock 13.32, while it was recorded at 14.60 for the last single week of trading, and 12.46 for the last 200 days.

Insight into Gates Industrial Corporation plc Fundamentals:

Gates Industrial Corporation plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.25 and a Current Ratio set at 3.08.

GTES Stock EPS

With the latest financial reports released by the company, Gates Industrial Corporation plc posted 0.25/share EPS, while the average EPS was predicted by analysts to be reported at 0.26/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -3.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GTES. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Gates Industrial Corporation plc go to 10.50%.

Gates Industrial Corporation plc [GTES] Institutonal Ownership Details

The top three institutional holders of GTES stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in GTES stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GTES stock with ownership which is approximately 5.8325%.